Creating multiple streams of income is a strategy many business professionals use to safeguard themselves against difficult economic times. Multiple streams of income can keep cash flowing even if one or two income streams suddenly dry up. There are many opportunities to earn money online, and generating multiple streams of income is possible for almost anyone.
Create a niche website. The more specific the topic of the website, the better your chances of earning higher income. Choose a topic that you're knowledgeable and passionate about, and start creating content related to your topic. Monetize your site with ads relevant to your site's topic using Google AdSense or by joining an ad network (see Resources below).
Sign up for an email marketing service, such as Constant Contact or iContact, that will help you manage an email mailing list (see Resources below). Create a signup box for your website so that your website visitors can sign up to receive updates from you. Send out a regular newsletter packed with useful information related to your niche topic. You can place ads directly in your newsletter, or promote other people's products for an affiliate commission.
Create a blog related to a niche topic. It can be the same topic as your website, or something else that you're interested in. Stay abreast of the most current news and information on your topic and make regular posts to your blog. Help to create a sense of community among your readers by encouraging and responding to comments. Monetize your blog with ads, through an ad network or Google AdSense (see Resources below).
Write articles related to topics that interest you and publish them to sites that offer revenue sharing programs, such as Associated Content or eHow (see Resources below). Be sure to follow the guidelines for the specific site that you're writing for, and publish as many articles as you have time to write. The more articles you publish, the more revenue you could potentially earn.
Write content for other business websites for a fee. Once you've become a skilled content creator, it won't be hard to get other businesses interested in having you help them create content for their sites, especially if you know how to optimize the content so that it's search engine friendly.
Create an ebook and offer it for sale on your website, through your blog or through your mailing list. If you have specialized knowledge in a certain area, your ebook will be filled with valuable information that others would be willing to pay for. You can also allow other website owners to promote your ebook for a percentage of the sale, otherwise known as an affiliate program (see Resources below).
If you're not the best writer, and have funds available, you may want to hire a content creator to help you create the content for your site.
It can take time to generate cash flow through the Internet. Don't get discouraged if you're not earning a living right away. Building up enough content to make your site ranks high in the search engines can be tricky and can take time.